Market Review. Results of the Day. 05/10/2018

May 11, 2018


BTC $9365.10

ETH $764.20

XRP $0.7999

BCH $1642.59

LTC $157.62

EOS $18.36


Technical analysis

Main cryptocurrencies grew today. BCH and ETH are better than the rest of the market, added 3.2% and 2.4% respectively. Trading volumes have continued to decline.

BTC support level is $9,000, resistance level is $9,750.

ETH support level is $720, resistance level is $800.

XRP support level is $0.80, resistance level is $0.90. Ripple is testing the support level today. In case of breaking out, the price can fall to $0.65.

EOS support level is $17.00, resistance level is $19.00.


News review

Intercontinental Exchange (ICE), a parental company of New York Stock Exchange is reportedly considering the possibility of offering its customers a bitcoin trading platform.

Financial Services Agency of Japan (FSA) announced the introduction of more stringent standards for registering and licensing cryptocurrency exchanges, in order to prevent the occurrence of cases like those that occurred with Coincheck in January of this year. It is reported that the new rules will be in effect already this summer.

New York State Attorney General Eric Schneiderman, who in April inquired information on the activity of 13 cryptocurrency exchanges, resigned after accusations of assault by four women.

Oracle will launch its own blockchain platform this month.

Charlie Munger, Vice Chairman of Berkshire Hathaway, told Yahoo! Finance:

"Suppose you could make a lot of money trading freshly harvested baby brains. Would you do it? To me bitcoin is almost as bad. <...> I regard the whole thing as a combination of dementia and immorality. I think the people pushing it are a disgrace. There ought to be some things that are beneath you, that you just don’t do, and this is one."

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